The share of non-resident Indians (NRIs) and overseas investors in Indian mutual funds has been declining over time, despite adding half-a-trillion rupees to holdings over the last five years. Mutual fund holdings for the segment went up from Rs 0.95 trillion as of December 2018 to Rs 1.54 trillion as of December 2022, shows Business Standard analysis of data from the industry body Association of Mutual Funds in India (Amfi). Their share in overall mutual fund assets has fallen from 4.2 per cent to 3.9 per cent during the same period.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The US is pressing for taxing digital economy through the 'marketing intangibles' principle and the UK through a 'user-base' principle.
Helped by a rally in the stock market where the Sensex surged by a whopping 439 points, its biggest single-day gain in 2012 so far, investors became richer by Rs 1.17 lakh crore on the back of clarity on tax-avoidance rules and bullish global sentiment.
Of the 926 bank branches, 862 branches are public bank branches, 35 HDFC bank branches, 10 ICICI bank branches and 19 Axis bank branches.
India has bilateral tax agreements with more than 70 nations.
The announcement came after the chief minister held a high level meeting with senior government officials on Thursday to discuss the implementation of both schemes, which are part of five poll guarantees of the Congress.
Providers write to Sebi, FinMin; launches may hit pause.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
India and Japan on Monday held talks to revise their tax treaty in a move to facilitate bilateral business investment, officials said in Tokyo.
Without Form 16, tax computation becomes cumbersome
India and Cyprus had entered into a Double Taxation Avoidance Agreement in 1994.
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
The proposed India-Iran Double Taxation Avoidance Agreement, which the two countries included in their joint New Delhi declaration in 2003, has run into a hurdle.
A tax fraud case involving Barcelona forward Lionel Messi and his father Jorge should be dropped because of errors in the investigation and court proceedings, their lawyers said.
Prime Minister Narendra Modi on Friday arrived in Australia on the second leg of his three-nation tour during which he will attend the annual G20 summit and hold bilateral talks with his Australian counterpart Tony Abbott.
'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
SEBI has published data showing that more than 90 per cent of investors lose money in futures and options, explains Harsh Roongta.
FIIs fear short-term capital gains would give rise to tax uncertainty and make their operations difficult, reports Pavan Burugula from Mumbai.
The Indian mrime minister supported a new global standard on automatic exchange of tax information
In the era of e-filing, small mistakes lead either to delayed or complete denial of income tax refunds. So, avoid these 5 common mistakes that could lead to delay in refunds.
These funds can fetch double-digit returns over the long term which debt tax-saving products can't.
Equity inflows worth $3.7 billion came from the sunny Caribbean jurisdiction in 2019-20, a 267 per cent increase from the $1 billion registered in 2018-19 making it India's 10th largest source of FDI.
Mauritius has rejected compensation of Rs 500 crore to plug loopholes in double taxation avoidance treaty. Mauritius accounts for nearly half of all foreign direct investment (FDI) inflows to India. With the tightening of tax laws, India attempted to amend the treaty. Due to the treaty, India was suffering over Rs 4,000 crore loss annually for some years in terms of revenue foregone on account of the capital gains exemption for investors routing their funds through Mauritius.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
Foreign companies that do not have a permanent establishment in India will be exempt from paying minimum alternate tax.
Envisaging a wider role for professionals, Company Secretaries have asked the government to make mandatory issuance of a service tax compliance certificate by companies.
'We are engaging in substantial open market sales of both wheat and rice to control food inflation; special measures of market intervention in vegetables, pulses and oil seeds were also taken to cushion the impact.'
Such schemes try to exploit an anomaly in taxation, but aren't in violation of laws, experts say.
Chidambaram said that of the total 17 lakh (1.7 million) registered service tax payers, only seven lakh of them were paying the levy.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
One of the key concerns of foreign investors is how the general anti-avoidance rule would apply in case an investor is availing benefits under double taxation avoidance agreement.
Ahead of the Budget, Finance Minister Arun Jaitley on Tuesday underlined the need for tax reforms and quick decision making to ensure stability in policy regime.
The suggestion is made by BSE in a letter to the Finance Minister.
You can carry forward losses and revise the returns umpteen times in case of mistakes.
CBDT is the apex policy making body of the IT department.
The Tax Administration Reform Commission submitted report to Jaitley in June 2014.
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